The 24th meeting of the Public Council under the UAPF was held

At the 24th meeting of the Public Council under the UAPF, the following issues were considered:

1) Discussion of the Social Code of the Republic of Kazakhstan, which will enter into force on July 1, 2023, with the invitation of representatives of the Ministry of Labor and Social Protection of the Republic of Kazakhstan.

2) Draft Anti-Corruption Standard of JSC UAPF.

On the first issue, N.A. Baktybayev, Director of the Legal Department of JSC UAPF, delivered a presentation explaining the Social Code of the Republic of Kazakhstan.

The speaker discussed the changes made to pension legislation in connection with the introduction of the Social Code of the Republic of Kazakhstan on July 1, 2023, and discussed in more detail issues related to expanding depositors' investment opportunities, using pension savings for housing and medical treatment, increasing funeral payments, mandatory employer pension contributions, and reducing the ENPF commission fee.

N.A. Baktybayev He reminded that, starting January 1, 2024, individuals eligible to enter into a pension annuity agreement with an insurance company for lifelong insurance payments using pension savings will be able to do so through an online resource created with the participation of the organization responsible for the formation and maintenance of the insurance database.

Furthermore, starting this date, the single aggregate payment, which includes mandatory pension contributions to the UAPF, will be eliminated.

The provisions of the Social Code governing the calculation (accrual), transfer, collection, storage, and accounting of mandatory employer pension contributions to the UAPF, pension payments from the OPVR, and the secrecy of notional pension accounts will come into force on January 1, 2024.

A.S. Zhukenova, Head of the Anti-Corruption Compliance Department of JSC UAPF, addressed the second issue. The speaker presented a draft Anti-Corruption Standard (ACS) for JSC ENPF, which provides for the establishment of an Anti-Corruption Compliance Service (ACS), which will exercise its powers independently of the executive body and officials of the quasi-public sector entity and report to the Fund's Board of Directors.

A separate clause highlights the ACS's goal of establishing a system of recommendations aimed at preventing corruption within the Fund and fostering sustainable anti-corruption behavior among Fund employees. The ACS also includes a provision prohibiting employees from using official information for personal purposes. In accordance with the Law of the Republic of Kazakhstan "On Combating Corruption," the list of close relatives has been clarified, and the provision on liability for violating anti-corruption legislation has been formalized.

Full details of the meeting can be found at https://www.enpf.kz/ru/about/council/protocols.php

 

 

The ENPF was established on August 22, 2013, on the basis of JSC "NPF "GNPF." The founder and shareholder of the ENPF is the Government of the Republic of Kazakhstan, represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan exercises trust management of the ENPF's pension assets. Effective January 1, 2016, the functions of developing proposals to improve the efficiency of pension asset management were transferred to the National Fund Management Council. In accordance with pension legislation, the ENPF collects mandatory pension contributions, mandatory professional pension contributions, voluntary pension contributions, makes pension payments, maintains individual records of pension savings and payments, and provides depositors (recipients) with information on the status of their pension savings (more details at www.enpf.kz).